Zenith

ICT4D Week 2018

Friday, April 20, 2018

Zinox boss applauds Keystone, says CashToken is revolutionary

The notable serial digital
entrepreneur and chairman of Zinox Group, Leo Stan Ekeh has applauded Keystone
Bank plc, describing its partnership with CeLD to launch CashToken as a move that will go a long way to revolutionize
customer loyalty in Nigeria, reports ITRealms.

CashToken is an
electronic reward and celebratory gift commodity designed to optimize customer
loyalty investments for businesses, individuals and government establishments
by offering recipients an opportunity to win life-changing cash rewards between
N5000 and N100m every week, among other benefits.

Speaking at the 500 CEOs Hyper
Centricity conference which featured the official unveiling of CashToken at the Intercontinental Hotel,
Victoria Island, Lagos on Thursday April 19th 2018, Ekeh disclosed that one of
the major reasons behind the worrisome unemployment situation in the country
was the inability of banks and other financial institutions to explore creative
avenues to support start-ups and empower millions of jobless youths.

Ekeh, who was the Chairman on the
occasion, noted that he had always referred to himself as a digital orphan,
considering the challenges he faced in his attempts to raise funds while
starting out as an entrepreneur – a situation which inspired him in working
extremely hard to offer himself as a collateral in order to realize his
corporate ambitions.

“I commend Keystone Bank and CeLD
for the launch of CashToken. It is a
solution that will revolutionize the scope of customer loyalty and expand
access to funding for SMEs. This is a timely intervention, considering the
difficulties faced by start-ups, especially those in the tech sector in raising
funds to pursue their dreams. When I started out as a struggling tech
entrepreneur, it was very difficult raising funds as the banks did not
understand technology back then. They were more interested in extending loans
and other credit facilities to oil companies.

“Today, we are in an era in which
technology is altering the destiny of most countries in the world. Yet, we
still see a situation where our banks are still not willing to give a chance to
tech start-ups. I also see the governments giving more concentration to
agriculture. There is nothing wrong with that but for these youths to embrace
farming, then it must be scientific agriculture. We must understand that
today’s youths are digital natives, many of whom are eager to take their place
in a knowledge economy driven by equal access to wealth. Tech start-ups are
defined by attitude, culture and lifestyle. This is the language of the current
generation. Just ask your kids at home what they would like to become in future
and see what responses you will get from them.

“I urge other banks to follow in
the footsteps of Keystone Bank by giving tech start-ups and other smart youths
a chance. If we empower 10 tech start-ups and only two of them succeed, the
combined returns from that investment will far exceed anything we hope to
derive from any other sector,” he said.